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By Michael Dabaie
CME Group Inc. (CME) said it would launch options on its bitcoin futures contracts in the first quarter of 2020, pending regulatory review.
"Based on increasing client demand and robust growth in our Bitcoin futures markets, we believe the launch of options will provide our clients with additional flexibility to trade and hedge their bitcoin price risk," said Tim McCourt, CME Group global head of equity index and alternative investment products.
Year to date, nearly 7,000 CME bitcoin futures contracts--equivalent to about 35,000 bitcoin--have traded on average each day, CME said.
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(END) Dow Jones Newswires
September 20, 2019 09:20 ET (13:20 GMT)
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